Report
Alexander Aukner
EUR 91.47 For Business Accounts Only

Atlantic Sapphire (Buy, TP: NOK151.00) - Liquidity squeeze resolved

Atlantic Sapphire recently raised USD100m in a private placement of 8.9m new shares at NOK102/share. The proceeds will plug the liquidity gap between phase 1 and phase 2 and ensure ample flexibility over the next two years. The company’s operational update revealed good biological performances in the US and Denmark, and high customer satisfaction. We reiterate our BUY and have tweaked our target price to NOK151 (156) due to a lower financial risk and a higher probability of success, but a higher number of shares outstanding.
Underlying
Provider
DnB Markets
DnB Markets

DNB Markets is the investment banking arm of DNB Bank ASA and is focused primarily on the Nordic region, as well as internationally on niches such as global shipping, energy and related services, and seafood. DNB Markets offers services in FICC, Equities and Investment Banking advisory from offices in Oslo, Stockholm, London, Singapore and New York. Equity research coverage is offered on c250 Nordic companies. DNB was ranked no.2 in Extel Nordic Research 2017. The DNB Markets’ Credit and FICC Macro & FX Research teams are repeatedly highly rated by Prospera Nordic Institutional Investor Surveys.

 

Analysts
Alexander Aukner

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